Liddell v. LAW Holdings & Ors [2004] ScotCS 21 (30 January 2004)

Liddell v. LAW Holdings & Ors [2004] ScotCS 21 (30 January 2004)

The balance of convenience favours the petitioner because the respondents failed to identify creditors or their claims, and there is a clear intention to sell the asset. It is necessary and appropriate to prevent the sale at this stage to protect the petitioner's contingent rights under the share purchase agreement.

Citation
[2004] ScotCS 21
Parties
Pursuer: Ian Liddell; Defender: L. A. W. Holdings Limited and Others
Jurisdiction
Scotland
Judgment Date
30 January 2004
Procedural Posture
Petition for Interim Interdict / Interim Interdict Granted; Subject to Reclaiming Motion
Outcome
Interim interdict granted
Legal Topics
Interim Interdict, Share Purchase Agreement, Contingent Creditor Rights, Asset Protection, Balance of Convenience
Company Law Equity Interim Interdict Share Purchase Agreement Contingent Creditor Rights Asset Protection Balance of Convenience

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Parties

Ian Liddell

Pursuer

L. A. W. Holdings Limited and Others

Defender

Procedural Posture

Petition for Interim Interdict / Interim Interdict Granted; Subject to Reclaiming Motion

Legal Issues

  1. 1 Whether interim interdict should be granted to prevent sale of Cadzow House pending resolution of petitioner's contingent claim under share purchase agreement
  2. 2 Whether the balance of convenience favours the petitioner or respondents

Ratio Decidendi

The balance of convenience favours the petitioner because the respondents failed to identify creditors or their claims, and there is a clear intention to sell the asset. It is necessary and appropriate to prevent the sale at this stage to protect the petitioner's contingent rights under the share purchase agreement.

Court Disposition

Interim interdict granted

Orders

  • Sale of Cadzow House by respondents is prevented pending further order